Application for approval to participate in the Regulatory Sandbox in the Kingdom of Bahrain.

The application process to be part of the Regulatory Sandbox consists of a single stage process.

Applicants wishing to participate in the Regulatory Sandbox must submit a duly completed ‘Application for Regulatory Sandbox’ form, under cover of a letter signed by the applicant or an authorised signatory of the applicant.

The CBB will review the application and, within 15 days of the application having been declared complete by the CBB, advise the applicant in writing whether it has: (a) Granted the approval; or (b) Refused the application, stating the grounds on which the application has been refused and the process for appealing against that decision.

In order for application to be approved, applicants must have provided all the required information, as specified in the Regulatory Sandbox paper.

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The Central Bank of Bahrain (CBB) issued (and will be publishing in the CBB website 'Open Consultations' section) a consultation paper on the draft rules on Crypto-asset Platform Operators ("CPO") for comment.

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